Friday, March 4, 2011

HUD's HOME Investment Partnerships Program (HOME)

Through HUD's HOME Investment Partnerships Program (HOME) the County has acquired over $1 million to use toward Down Payment and Closing Cost Assistance loans. The County's Department of Housing and Community Development (DHCD) has recently finalized the program guidelines and will be announcing the official start of the program this week.

  • Projected start date is Monday, March 7, 2011.
  • The purchase property DOES NOT HAVE TO BE A FORECLOSED PROPERTY. The MY HOME program is open to all residential sale properties in Prince George's County up to $362,790. . . including short sales (single family, townhome, condominium, new construction included. The buyer must occupy.)
  • DPA is NOT restricted to specific zip codes. Under My HOME all areas of Prince George's are eligible.
  • Applicant must be a first time home buyer, defined as "not owning a home within last three years."
  • The amount of down payment assistance (DPA) is 5% of the property sale price.
Need more details call 240-305-9462